European Business Schools Librarian's Group
Home About Series Subject/JEL codes Advanced Search
The Economic Research Institute, Stockholm School of Economics SSE/EFI Working Paper Series in Economics and Finance

No 258:
International Health Expenditure and GDP: New Multivariate Cointegration Panel Data Results

Ulf-G. Gerdtham () and Mickael Löthgren ()

Abstract: In this paper we test for existence of cointegration between health expenditure and GDP using data from 19 OECD countries for the period 1960-1995. Country-by-country and panel results based on the Johansen multivariate likelihood-based inference and a new panel test for cointegration rank are presented. The empirical modelling is based on a bivariate vector error correction model that allows for trending data as well as an intercept and a trend in the cointegrating relation. Given this model, the main result indicates that a cointegrating relation exists between health expenditure and GDP.

Keywords: Cointegration; Heterogeneous dynamic panels; Maximum likelihood; (follow links to similar papers)

JEL-Codes: C12; C22; C23; I10; (follow links to similar papers)

13 pages, September 21, 1998

Download Statistics

Publication Data:
Published in Applied Economics, 2002, pages 1679-1686.

Questions (including download problems) about the papers in this series should be directed to Helena Lundin ()
Report other problems with accessing this service to Sune Karlsson () or Helena Lundin ().

Programing by
Design Joakim Ekebom

Handle: RePEc:hhs:hastef:0258 This page was generated on 2017-03-26 21:39:44